Global Cng Tanks Cylinders Market
Market Size in USD Billion
CAGR :
% 
 Forecast Period |
2024 –2031 |
 Market Size (Base Year) |
USD 19,024.40 Million |
 Market Size (Forecast Year) |
USD 25,889.60 Million |
 CAGR |
% |
| Major Markets Players |
Global CNG Tanks Cylinders Market, By Material Type (Type I (Metal), Type II (Metal Liner with Hoop-Wrapped Composite), Type III (Metal Liner with Fully Wrapped Composite), Type IV (Full Composite)), Vehicle Type (Light-Duty Vehicles, Medium-Duty Vehicles, Heavy-Duty Vehicles), Application (On-board CNG Tanks, Stationary CNG Tanks), End-Use (Transportation, Industrial), Composite Type (Carbon Fiber Reinforced Composite, Glass Fiber Reinforced Composite), Distribution Channel (OEM, Aftermarket) - Industry Trends and Forecast to 2031.
CNG Tanks Cylinders Market Analysis and Size
The CNG tanks/cylinders market is driven by the increasing adoption of natural gas as a clean and sustainable alternative to traditional fuels. The market encompasses a range of cylinder types, including Type I, II, III, and IV, each offering different material compositions and applications. Growth is influenced by the expansion of CNG infrastructure, government initiatives promoting clean energy, and the demand for eco-friendly transportation solutions.
Data Bridge Market Research analyzes that the global CNG tanks cylinders market which was USD 19,024.4 million in 2023, would rocket up to USD 25,889.6 million by 2031, and is expected to undergo a CAGR of 3.9% during the forecast period of 2024 to 2031. “Type I (Metal)” dominates the material type segment of the CNG tank cylinders market due to its robust and durability nature and is commonly used in various applications, especially in heavy-duty vehicles and industrial settings.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric |
Details |
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Forecast Period |
2024 to 2031 |
|
Base Year |
2023 |
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Historic Years |
2022 (Customizable to 2016-2021) |
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Quantitative Units |
Revenue in USD Million, Volumes in Units, Pricing in USD |
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Segments Covered |
By Material Type (Type I (Metal), Type II (Metal Liner with Hoop-Wrapped Composite), Type III (Metal Liner with Fully Wrapped Composite), Type IV (Full Composite)), Vehicle Type (Light-Duty Vehicles, Medium-Duty Vehicles, Heavy-Duty Vehicles), Application (On-board CNG Tanks, Stationary CNG Tanks), End-Use (Transportation, Industrial), Composite Type (Carbon Fiber Reinforced Composite, Glass Fiber Reinforced Composite), Distribution Channel (OEM, Aftermarket) |
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Countries Covered |
U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Netherlands, Russia, Belgium, Turkey, Rest of Europe, China, India, Japan, Australia, South Korea, Malaysia, Singapore, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Kuwait, Rest of Middle East and Africa. |
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Market Players Covered |
Worthington Industries, Inc. (U.S.), Hexagon Composites ASA (Norway), Luxfer Gas Cylinders (U.K.), INOXCVA (India), NGV Technologies Inc (Belgium), Cobham Mission Systems (U.S.), Beijing Tianhai Industry Co., Ltd. (China), Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd. (China), Sinomatech Wind Power Blade Co., Ltd. (China), CNG United (U.S.), North American Cylinders Inc. (U.S.), Everest Kanto Cylinder Ltd. (India), Navdeep Industries (India), Maven Composite Materials Co., Ltd. (Taiwan), Quantum Fuel Systems Technologies Worldwide, Inc. (U.S.), Shaanxi Tianren Organic Co., Ltd. (China), AVANCO GmbH (Germany), Faber Industrie S.p.A. (Italy) |
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Market Opportunities |
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Market Definition
Compressed Natural Gas (CNG) tanks, also known as cylinders, are high-strength containers designed to store natural gas under pressure. These cylinders play a crucial role in the transportation and storage of CNG, a cleaner alternative fuel. Typically made from materials like steel or composite materials, CNG tanks ensure the safe containment of compressed gas for use in vehicles, reducing environmental impact and promoting sustainable energy practices. These cylinders are integral components of CNG-powered vehicles, supporting the global shift toward cleaner and more environmentally friendly transportation solutions.
CNG Tanks Cylinders Market Dynamics
Drivers
- Increasing awareness of environmental issues and stringent emissions regulations
Environmental concerns and regulations play a pivotal role in driving the adoption of Compressed Natural Gas (CNG) tanks/cylinders. Stringent emissions standards and heightened awareness of air quality issues are compelling factors, as CNG offers a cleaner-burning alternative to traditional fuels, aligning with global efforts to mitigate the environmental impact of transportation.
Governments worldwide are implementing robust regulations to curb greenhouse gas emissions and promote sustainable practices. The environmental benefits of CNG, including reduced carbon emissions and lower particulate matter, position it as a key driver in regions where adherence to stringent environmental standards is imperative for automotive industries and fleet operators.
- The cost-effectiveness of natural gas
Cost efficiency and fuel savings stand as primary drivers propelling the adoption of Compressed Natural Gas (CNG) tanks/cylinders. The economic advantage lies in the comparatively lower cost of natural gas, providing a cost-effective alternative for fleet operators and individual consumers seeking to optimize operational expenses. CNG's favorable energy-to-cost ratio enhances its attractiveness as a sustainable and financially prudent fuel option.
In the context of CNG-powered vehicles, the inherent efficiency of natural gas combustion contributes to fuel savings, translating into reduced operational expenses over the vehicle's lifecycle. Fleet managers and businesses operating large vehicle fleets find CNG an appealing choice, not only for its environmental benefits but also for its potential to significantly cut fuel-related costs, fostering economic sustainability in the transportation sector.
Opportunity
- Innovation in the design of CNG cylinders, improvements in storage capacity and weight reduction
Technological innovation in cylinder design presents a significant opportunity in the compressed natural gas (CNG) tanks/cylinders market. Ongoing advancements aim to enhance storage efficiency, reduce overall weight, and improve safety features. Innovations in materials, such as advanced composites and lightweight alloys, offer opportunities to create cylinders that are not only more robust but also lighter, contributing to increased fuel efficiency in CNG-powered vehicles.
Opportunities thrive for manufacturers to invest in research and development, exploring cutting-edge technologies like advanced carbon fiber composites and high-strength alloys. These innovations hold the potential to revolutionize the design and manufacturing processes, resulting in CNG cylinders that are not only more energy-efficient but also economically viable. Improved cylinder designs can address concerns related to weight, space utilization, and safety, driving further adoption of CNG as a sustainable and technologically advanced fuel option.
Restraint/Challenge
- Uneven distribution of CNG infrastructure
The limited CNG infrastructure poses a significant restraint to the widespread adoption of compressed natural gas (CNG) tanks/cylinders. Uneven distribution of refueling stations globally hampers the convenience of refueling, impacting the feasibility of CNG-powered vehicles for consumers and fleet operators.
The challenges associated with limited CNG infrastructure are twofold, affecting both the accessibility of refueling stations and the overall market acceptance of CNG-powered vehicles. Addressing this restraint requires substantial investments in expanding infrastructure, necessitating collaborative efforts from governments, energy companies, and the automotive industry to create a more comprehensive and user-friendly network.
This CNG tanks cylinders market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the CNG tanks cylinders market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In August 2023, The Tiago and Tigor iCNG have been altered by Tata Motors with its dual-cylinder CNG tank technology. Tata incorporated two smaller cylinders that fit beneath the baggage are instead of a single giant CNG cylinder that takes up space in the boot. As a result, Tigor ICNG has a 70-liter CNG tank capacity
- In April 2023, The Altroz iCNG, Tata Motors' much-anticipated premium hatchback, made its formal debut. This design now boasts a new twin-cylinder CNG tank technology, making it the first vehicle in India
- In March 2021, Hexagon Composites business company Hexagon Ability has bagged an order of CNG trucks from global logistics deliver company Ups. This order will lead to establishment of sustainable fleets in environmental and economic sense.
Global CNG Tanks Cylinders Market Scope
The CNG tanks cylinders market is segmented on the basis of material type, vehicle type, application, end-use, composite, and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Material Type
- Type I (Metal)
- Type II (Metal Liner with Hoop-Wrapped Composite)
- Type III (Metal Liner with Fully Wrapped Composite)
- Type IV (Full Composite)
Vehicle Type
- Light-Duty Vehicles
- Medium-Duty Vehicles
- Heavy-Duty Vehicles
Application
- On-board CNG Tanks
- Stationary CNG Tanks
End-Use
- Transportation
- Industrial
Composite Type
- Carbon Fiber Reinforced Composite
- Glass Fiber Reinforced Composite
Distribution Channel
- OEM
- Aftermarket
CNG Tanks Cylinders Market Regional Analysis/Insights
The CNG tanks cylinders market is analyzed and market size insights and trends are provided by material type, vehicle type, application, end-use, composite, and distribution channel as referenced above.
The countries covered in the CNG tanks cylinders market report are U.S., Canada, Mexico, Germany, U.K., Italy, France, Spain, Switzerland, Netherlands, Russia, Belgium, Turkey, rest of Europe, China, India, Japan, Australia, South Korea, Malaysia, Singapore, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Brazil, Argentina, rest of South America, South Africa, Saudi Arabia, U.A.E., Kuwait, and rest of Middle East and Africa.
Asia-Pacific is expected to dominate the global CNG tanks cylinders market in terms of market share and market revenue and will continue to flourish its dominance in the market due to the increasing adoption of natural gas as a clean alternative to traditional fuels. China government's focus on reducing air pollution and carbon emissions has driven the demand for CNG-powered vehicles. This is consequently boosting the CNG tanks cylinders industry in the country.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and CNG Tanks Cylinders Market Share Analysis
The CNG tanks cylinders market competitive landscape provides details by competitors. details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the CNG tanks cylinders market.
Some of the major players operating in the CNG tanks cylinders market are:
- Worthington Industries, Inc. (U.S.)
- Hexagon Composites ASA (Norway)
- Luxfer Gas Cylinders (U.K.)
- INOXCVA (India)
- NGV Technologies Inc (Belgium)
- Cobham Mission Systems (U.S.)
- Beijing Tianhai Industry Co., Ltd. (China)
- Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd. (China)
- Sinomatech Wind Power Blade Co., Ltd. (China)
- CNG United (U.S.)
- North American Cylinders Inc. (U.S.)
- Everest Kanto Cylinder Ltd. (India)
- Navdeep Industries (India)
- Maven Composite Materials Co., Ltd. (Taiwan)
- Quantum Fuel Systems Technologies Worldwide, Inc. (U.S.)
- Shaanxi Tianren Organic Co., Ltd. (China)
- AVANCO GmbH (Germany)
- Faber Industrie S.p.A. (Italy)
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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